Payments/Credit/Debit

Credit unions that issue credit and debit cards should continue to do so even though fraud losses might have bitten into their program's profit margins and hiked insurance premiums, CUNA Mutual Group has emphasized.

Fidelity National Information Services, the leading processor for credit union card accounts and a leading processing and authentication provider, began putting stronger internal control procedures into place after the processor discovered a data breach, which it alleged came from a source inside one of the company's subsidiaries.

A survey financed by card issuer Capital One has found that while a majority of teenagers desire to get some sort of education about how to manage their money, most never get any.

The issue of credit and debit card interchange appears poised to get more attention this week as the House Judiciary Committee's Anti-Trust Task Force has scheduled a July 19 hearing on the issue.

TNB Card Services, the card portfolio purchasing and processing arm of credit union-owned Town North Bank has renovated its card rewards program to make it more accessible and better known to credit unions.

Fidelity National is continuing to purchase its way to becoming the largest company in the center of the credit union card industry, announcing on June 27 that it has inked a deal to purchase eFunds, one of the largest processors of EFT transactions.